Nexxen International Ltd. (NASDAQ:NEXN) Given Average Recommendation of “Moderate Buy” by Analysts

Nexxen International Ltd. (NASDAQ:NEXN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $17.00.

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Canaccord Genuity Group initiated coverage on Nexxen International in a report on Wednesday, March 26th. They set a “buy” rating and a $12.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Nexxen International in a research report on Thursday, March 6th.

Nexxen International Price Performance

NEXN stock opened at $7.62 on Wednesday. The company has a market capitalization of $483.24 million, a P/E ratio of 190.50 and a beta of 1.91. The company has a fifty day moving average price of $12.54 and a 200-day moving average price of $15.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International has a 52-week low of $6.93 and a 52-week high of $21.88.

Nexxen International announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors have recently modified their holdings of NEXN. Two Sigma Investments LP acquired a new stake in Nexxen International in the 4th quarter valued at $593,000. Numerai GP LLC bought a new stake in shares of Nexxen International during the fourth quarter worth about $315,000. Millennium Management LLC raised its holdings in shares of Nexxen International by 45.7% in the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after acquiring an additional 30,973 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Nexxen International in the 4th quarter worth about $210,000. Finally, Bank of America Corp DE lifted its position in Nexxen International by 1,898.3% in the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock valued at $151,000 after acquiring an additional 14,351 shares in the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company’s demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.